Amend or Form 3115?

[Catherine]

New client for 2015.  Also sent her 2014 return for review as it was the first year she owned/rented a vacation condo, and she did the return herself.  Of course she put all mortgage interest and RE tax on Sch A and had no depreciation and no Schedule E.  Since 2014 was the *first* year -- can we just amend and fix the whole mess?  Or do I need to go through the Form 3115 agony for this?

In the unlikely event that she had just purchased the rental condo but had NOT done anything about renting it in 2014 (beyond thinking, "y'know, maybe I could rent this out when I'm not here..."), then it's all moot as the in-service date moves to 2015.  Yes?

 

[Possi]

If she did rent it, then amend the return.

If she did not rent it, you are correct, it's moot.

[SaraEA]

You don't establish an accounting method unless you've used the same procedure (even if wrong) for two years.  Since it sounds like she hasn't filed 2015 yet, you can just amend 2014 if it needs it.  The vacation home rules may apply, so check that out too.

[Terry D EA]

Catherine I would just amend the return. By your post, no depreciation to correct and no method of accounting has been established.